§ Lord Bethellasked Her Majesty's Government:
Whether they will introduce legislation to repeal Section 97 of the Building Societies Act 1962 which removes the right of appeal against decisions of the Chief Registrar of Friendly Societies.
§ Lord CockfieldSections 97 and 98 of the Building Societies Act 1962 apply to arbitration in a dispute between a member and a society, the arbitration being carried out by a court, the chief registrar or other arbitrator appointed in accordance with the rules of the society. The latter section makes a limited provision for matters to go to the court but only in so far as points of law are concerned. This is in accord with the general principle that arbitration is intended as a simple and speedy method of settling disputes and therefore that the award should he final and binding on both parties. It will be for consideration when there is next substantive building society legislation whether this part of the 1962 Act needs revision, in particular in the light of the Arbitration Act 1979. If the noble Lord has a particular case in mind, perhaps he would let me know.